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July 15, 2021

What is Property valuation tool | The complete guide.

If you are the owner of any property, you will definitely be eager to know the recent time property valuation. You must have purchased the property or the house years ago or may have constructed it. At that point of time, the property may have costed you a certain amount of money. But, the valuation of the property can never be same for years. It will either increase with time or decrease. So, it is essential to evaluate from time to time.

How to do property valuation

How to do property valuation?

Property is not a day-to-day essential goods, that you ask anyone and everyone in the market and they will give you the correct price of it. Definitely, there are experts who can give real estate valuation on the basis of time, place, scenario, future expectation, etc. But that may not be accurate. Plus, they will charge you a bomb only to give you a wrong price. The best way to do property valuation is to take the help of property valuation tool.

What is a property valuation tool?

With the help of your own mobile phone and sitting at the comfort of your home, you can evaluate your property by clicking a single button. This is the role of property valuation tool. With the help of it, you can check property valuation online and get appropriate price range.

Online property valuation does not involve any person to roam around the area, visit the place and then evaluate the property worth. Checking house valuation online completely based on algorithmic mechanism which relies on comparative data analysis to evaluate the real estate price.

Why do you need to do property valuation?

It is essential to know the fair market value of your property at any given point of time both for a buyer and a seller. If you are a buyer and you are interested towards a real estate, you should definitely cross verify the quote made by the seller. You never know when and how the seller may quote you a higher price for a property.

In the similar manner, a seller can also refer to property valuation online before quoting the price to the buyers. If you are seller, your basic instinct will be to get more price for your property, but how will you know the correct valuation? It is essential to check real estate valuation online first and then decide the quote.

Property valuation is not always about buy or sell property. You can refer to it for other factors like refinance, annual property taxes, insurance premiums, home equity, sales listing, financing, taxation, and property insurance.

What factors determine the property valuation?

There are several factors that directly and indirectly affect the valuation of the property. Some of the prominent factors are:

  • Location
  • Kind of property
  • Size
  • Year of construction
  • Number of ownership transfer
  • Floor
  • Lift or stairs
  • Main market
  • Condition
  • Repair cost
  • Type of documents available
  • Case of disputed property

All these factors have huge impact on the valuation of property. There can be a few more reasons behind real estate valuation. So, it is essential to have a good knowledge of all these factors both for buyer as well as seller.

When to use property valuation calculator?

Orange Book Value is a free tool available for everyone, You can use it anywhere, anytime to evaluate your property price. At the very moment when you are meeting the buyer, you can check property valuation online and show the price to the buyer. The same thing can be done by the buyer as well. At the time of conversation, buyer can refer to property valuation calculator instantly and check the price. This will bring more clarity and will help both the parties to be on the same page.

Now, the question arises, which property valuation tool or calculator to refer to? You should always refer to the one which is unbiased, independent, and objective, so that it does not suffice the interest of any one side but helps both the parties. Use OBV property valuation calculator to find the valuation of your property today.

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Privacy Policy | Terms of Use
What Is OBV?

Orange Book Value is a platform that helps in determining the fair market price of used vehicles. It is basically an algorithmic pricing engine that suggests market value of used cars, used bikes and used scooters. Questions like what is the value of my used car or used bike come to our mind when we decide to sell it off. However, we do not get to understand the proper valuation of our vehicles.

In order to come up with a proper used car valuation or used bike valuation, Orange Book Value uses real time data science to value depreciation of automobiles. It helps the sellers put a fair price in front of the buyer, and for the buyers, it helps them get a product that serves great value for their money. This is a service by droom, which was founded by Sandeep Aggarwal.

Why OBV?

Orange Book Value works as an independent value calculator for cars, bikes and scooters that determines second-hand vehicle prices. It uses Droom's proprietary technology and data science to come up with fair market price of used cars, bikes and scooters, and utilises scientific data to get the exact value for the vehicle. The primary objective of this used-vehicle price guide is to get the fair market price for second-hand vehicles.

Another reason for using Orange Book Value is its unbiased results that help in obtaining reliable data on used-vehicle pricing. Also, it is the kind of valuation tool for used scooters, bikes and cars that calculates the data on real-time basis with a scientific method of suggesting their current market value.

How Does It Work?

To get the fair market price of your used vehicle, you need to follow just four simple steps. At first, you need to select the purpose, that means whether you want to buy or sell the vehicle. After that you need to select the category of used vehicle, which is whether you have a used car, bike or scooter. The next step is selecting the parameters such as make, model, year, trim, etc., of the product for which you need to get the correct market valuation. The market value of your used bike, car or scooter will highly depend on the condition of the vehicle and the kms driven. After that, you will get the exact valuation of your vehicle through Orange Book Value.

Benefits Of OBV

Orange Book Value helps buyers to understand the fair value of a used car, bike or scooter. This way, the buyer will not have to guess the price of a used car or bike and can be satisfied with price that he/she is paying for the product. For sellers, it helps in determining the best market value for their used vehicle. This valuation tool for used cars and bikes creates a transparency in the overall process. This is a pricing guide for used cars, used bikes and used scooters that helps in quick selling of second-hand vehicles. For banks and NBFCs, it helps in getting the fair pricing of used vehicles that further enhances the process of loan approvals. For insurance companies as well, the real-time data obtained through scientific calculation helps in obtaining the current valuation of the second-hand cars, bikes and scooters.

OBV Methodology

Being the most advanced algorithmic and data science-based value calculator, Orange Book Value is the most accurate valuation tool for used cars, bike and scooters in India. Unlike other pricing engines, Orange Book Value utilises Droom's proprietary data science methodologies and latest technologies to get the correct pricing of used cars, bikes and scooters depending upon various factors that lead to value depreciation such as make, model, trim, data for kms driven that is obtained through odometer reading, current condition of the vehicle that includes wear and tear, dents, major repair works, etc. A vehicle that is well-maintained and kept in good shape gets to score more in the OBV methodology and gets a better market value.

Appropriate Condition

Orange Book Value calculates the valuation of a used car, bike or scooter according to different parameters that cause value depreciation of second-hand vehicles. When pricing engine comes up with a particular result based on the make, year of manufacture, trim of the vehicle, odometer reading that decides the total number of kms driven and the physical and mechanical condition of the vehicle, the used cars and bikes are rated on its basis. These ratings include Excellent, Very Good, Good and Fair. While Excellent and Very Good signify a healthy used car, Good and Fair indicate that it has problem with some of the parts and needs special attention and repairing.

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